Just being curious I did look at the rate the company is letting go its shares (Thanks to regular reports by dunitB4) and try to project when all the 50,000,000 wil have been issued.
July 15, 2002, the number of shares outstanding stood at 27,393,808.
As of 12/4/02 outstanding shares were 38,928,412
11 Dec 2002, Shares outstanding 39,828,412
17 Dec 2002, Current shares issued 40,828,412
07 Jan 2003, OS 43,228,412
Shares issued as of 1/16/03 = 44,878,412
Shares issued in 6 months = 17,484,604 for a total value of + or - $ 700,000 (675,000/week on average, with recent acceleration)
At that rate (675,000 shares/week), the 50,000,000 shares will have been issued by March 8 or so... earlier considering most recent rate.
Audited financials are committed for before April 1,2003.
We seem to be heading toward having all shares issued right about at the time the audited financials may be issued... That also can be interpreted to support your beleif, good or bad.
If we want to assume that this was (is) a scam, of two things one:
- They blew it (less than $1,000,000) by not being able to have the value of the shares grow, whatever they said,
- They are small stupid crooks gangning together for peanuts after the distribution will have been made.
That sounds so non logical to me that I am tempted to beleive these people are realy working hard at doing something worthwhile.
On the other hand, by not helping the market to have access to neutral independant sources, able to confirm whatever information we can easyly get from those directly involved, the company threw away millions of share at ridiculously low prices. Assuming the best, that would not be very impressive.
As for the message boards, we have those shouting that it is a scam but bringing no proofs, we have those being very satisfied to get confirmation of the releases from those having written them in the first place and we have few, trying to get to secondary reliable sources of information and being categorised as subtile bashers ???
Situate yourself in whatever group you feel appropriate but, in my case, at the present time, I am very honestly part of the last group.
Not having realy found reliable independantly produced data, I have great difficulty beleiving that this is what I would like it to be... but I don't know???
In this gambling case, I did average down buying 26,000 more shares at $0.038 (net $1033) less than 3 months ago. Having more doubts than I can accept, I sold 20,000 at 4.7 cents (net $895) yesterday and I plan to buy 20,000 shares at $0.031 if I can (net $665), then sell them again later at 4.7 cents, and repeat that if possible till we find out the outcome.
Then I will have cashed in few dollars reducing my risk on the way... unless something comes up between now and then, confirming the probable outcome, one way or the other.
FWIW...
Roger
